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2024-03-31-accounts

REGISTERED COMPANY NUMBER: 01856580 (England and Wales) REGISTERED CHARITY NUMBER: 515903

THEATR NA N'OG

REPORT OF THE TRUSTEES AND

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

Carr, Jenkins & Hood 3 New Mill Court Enterprise Park Swansea SA7 9FG

CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

THEATR NA N'OG

Page
Report of the trustees 1 to 7
Independent examiner's report 8
Statement of financial activities 9
Balance sheet 10 to 11
Cash flow statement 12
Notes to the cash flow statement 13
Notes to the financial statements 14 to 27

THEATR NA N'OG (REGISTERED NUMBER: 01856580)

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024

The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 March 2024. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).

The report of the trustees also incorporates a directors' report as required by company law.

Objectives and activities Objectives and aims

The objects of the charity are to produce theatre productions for young people. The charity will also tour productions regionally, nationally and internationally to broaden its audience base.

The charity believes that children and young people deserve to experience theatre of the same high artistic standard and aesthetic value as theatre aimed at adults, by creating high quality theatre that is powerful, inspiring and relevant to all ages, bringing to life authentic stories of ordinary people who achieve extraordinary things.

Its aims are to:

Inspire by producing bilingual theatre that captivates the minds and imaginations of audiences across Wales

By achieving these aims the organisation makes it a vital component in the arts sector in its region and in Wales.

Significant activities

The charity's main objectives continued to be the promotion of theatre for young people in our local area but with an intention to tour productions to a variety of age groups and beyond our traditional area. Four key areas were identified for specific attention:

Strategies for achieving the aims and objectives are through the artistic plan which is openly consulted with stakeholders, which informs the charity's activities.

The charity measures its success through audience numbers and participants. It also regards critical appraisal from peer groups and funders.

Significant activities undertaken in this financial year were 3 productions, with a fourth production in pre-production. The charity broadened its reach to new areas in Wales with its new initiative Goleufa/Beacon which will see its annual autumn production perform at Theatr Brycheiniog, enhancing accessibility for young audiences in Powys and produced and performed the Welsh language Consortiwm project which presents Welsh language theatre to the Valleys of South Wales.

1

THEATR NA N'OG (REGISTERED NUMBER: 01856580)

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024

Objectives and activities Public benefit

The trustees of the charity are committed to providing a public benefit, and have taken into account the Charity Commission's guidance in this area.

For the many members of our audiences who come from deprived communities, Theatr Na N'og's ethos has always been to inspire and encourage ambition and aspiration, to believe in oneself and dare to dream. This is what makes our work so effective at igniting young imaginations and appealing to people from all backgrounds.

Through our expertise in working with both schools and theatre venues, we have developed a unique understanding of how to bridge the gap between the generations, in order to achieve a truly shared experience.

Volunteers

The charity also recognises the significance of volunteers for our activities. The creative associates and volunteers for specific events. They also contribute to the discussion on policies and strategies to engage with the wider community and under-represented groups in the sector and society.

2

THEATR NA N'OG (REGISTERED NUMBER: 01856580)

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024

Achievement and performance Charitable activities

Since the pandemic the organisation had began to offer an ambitious programme of work building on its commitment to its audiences and collaborators:

However, the opportunity for further investment from the Arts Council of Wales did not materialise and the cost of living crisis exacerbated an under-invested sector creating further challenges for the charity.

In the midst of these challenges the organisation continued its commitment to their audiences.

Just Jump

A revival of the award-winning production commissioned by Cardiff Harbour Authority, Associated British Ports and Culture Step by Arts and Business Cymru. The production was performed at the Norwegian Church in Cardiff to 877 children in both Welsh and English. The success of this collaboration has led to further funding from the partners for the next year.

The Butterfly Hunter / Heliwr Pili Pala

The company's annual school production at the Dylan Thomas Theatre in Swansea was presented in the Autumn. The project had an additional week at Theatr Brycheiniog as a result of the successful pilot project in 2022. 4,861 children saw the production. With a total audience of 5,437.

Y Fenyw Mewn Du

The second production for the Consortiwm Cymraeg. A Welsh translation of the successful West End show, toured to the partner venues and a new partner the Borough Theatre in Abergavenny. We performed to 658 people.

Operation Julie Tour

Pre-production for the highly successful summer co-production with Aberystwyth Arts Centre, telling the story of the famous police operation that took place in West Wales in 1975-1977 which managed to undercover, at the time, the world's largest LSD manufacturer. This original play with a 70's prog-rock soundtrack will tell the incredible story of Operation Julie.

The production will tour to Aberystwyth Arts Centre, Theatr Brycheiniog, The Lyric Carmarthen, Pontio Bangor and The Riverfront Arts Centre, Crewe Lyceum and The Wyvern at Swindon.

Other

The organisation performed to 13,987 people in this financial year an increase of 23% on last years figures.

The organisation has maintained its main funder - the Arts Council of Wales and was been successful in achieving funding for its production of Operation Julie. In addition to the core grants, further grant funding was awarded of £201,980 (2023; £102,484) together with donations totalling £74 (2023; £24) received from the public.

3

THEATR NA N'OG (REGISTERED NUMBER: 01856580)

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024

Financial review Financial position

The charity continues to review its income base and cost base, with a view to conserving resources. During this financial period, resources have increased in line with budgetary forecasts. Reserves remain at a satisfactory level.

The charity has seen an increase in material costs and in travel and accommodation costs directly impacting on production costs of the organisation. Energy costs have also risen and this has also impacted on the core funds of the organisation.

Certain factors which could affect future financial performance will be the increased costs of transporting audiences to the charity's performances, particularly school children, which could potentially result in fewer audience numbers and income.

Total incoming resources for the year amounted to £612,579 (2023; £616,018). Resources expended amount to £583,126 (2023; £582,217). The net surplus for the year is £29,453 (2023; £33,801).

The net reserves at the balance sheet date are £536,851 (2023; £507,398) of general funds.

Principal funding sources

The charity has maintained its annual revenue funding from the Arts Council of Wales, with a decrease in the level of funding next year.

Investment policy and objectives

The trustees consider the most appropriate policy for investing surplus funds is in short term deposit accounts to maintain cashflow liquidity.

Reserves policy

Theatr Na N'og has set the following policy in order to see out its short-term commitments in the event of loss of income or other financial crisis.

A minimum of £125,000 has been set to cover the costs and outstanding debt following loss of all income and resources. The charity has fixed assets including ownership of Units 3 and 4 Milland Road Industrial Estate. The net book value is detailed in the annual accounts; it is noted that the net book value is lower than the market value. Further to these, the charity aims to hold at any one time at least 3 months of operating reserves to cover any immediate loss of income.

Going concern

After making appropriate enquiries, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements. Further details regarding the adoption of the going concern basis can be found in the Accounting Policies.

4

THEATR NA N'OG (REGISTERED NUMBER: 01856580)

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024

Future plans

Operation Julie Tour

A tour of the successful summer co-production with Aberystwyth Arts Centre, telling the story of the famous police operation that took place in West Wales in 1975-1977 which managed to undercover, at the time, the world's largest LSD manufacturer. This original play with a 70's prog-rock soundtrack will tell the incredible story of Operation Julie.

The production will tour to Aberystwyth Arts Centre, Theatr Brycheiniog, The Lyric Carmarthen, Pontio Bangor and The Riverfront Arts Centre, Crewe Lyceum and The Wyvern, Swindon.

Just Jump

A revival of our award-winning production commissioned by Cardiff Harbour Authority, with additional funding from two business partners and Culture Step by Arts and Business Cymru. The production will be performed once again at the Norwegian Church in Cardiff and will also be performed in Milford Haven in collaboration with Milford Haven Port Authority.

The Fight

A new play will be premiered to schools as part of the company's annual school production at the Dylan Thomas Theatre in Swansea to be presented in the Autumn. The project will also be performed at Theatr Brycheiniog as part of the development of their ongoing collaboration.

Structure, governance and management Governing document

The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.

Charity constitution

Theatr Na N'og is a company limited by guarantee and a registered charity. It was established in 1984 to promote and advance artistic education and the public appreciation of the arts. These objects are set out in its governing instrument which is its Memorandum and Articles of Association.

Recruitment and appointment of new trustees

Under the terms of the Articles of Association, there is no maximum to the number of board members but there should be a minimum of four. All members will serve an initial term of three years. At an annual general meeting retiring members can be re-elected for a second term of three years.

Vacant positions are advertised and a short list are interviewed for each post. Trustees are then chosen for the specific skills that they will bring to the Board.

Organisational structure

The governing body is the board of trustees whose members are non-executive and unpaid. The board meets bi-monthly and covers areas such as artistic development, diversity, membership and finance.

An artistic director is appointed by the trustees to manage the day to day operations of the charity. To facilitate effective operations, the artistic director has delegated authority, within terms of delegation approved by the trustees, for operational matters including finance, employment and artistic performance related activity.

5

THEATR NA N'OG (REGISTERED NUMBER: 01856580)

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024

Structure, governance and management Induction and training of new trustees

All new trustees are required to attend an induction and orientation day to brief them on their legal obligations under charity and company law, the content of the Memorandum and Articles of Association, the committee and decision making processes, the business plan and recent financial performance of the charity. Trustees are also encouraged to attend appropriate external training events where these will facilitate the undertaking of their role.

Key management remuneration

The trustees consider that the board of trustees and the artistic director comprise the key management personnel of the charity in charge of directing, controlling, running and operating the charity. The trustees delegate the day to day running of the organisation to the artistic director. All trustees give their time freely and no trustee received remuneration during the year.

The pay of senior staff who are not trustees is set at industry approved levels, reviewed annually and benchmarked against comparable organisations run on a voluntary basis. The remuneration benchmark is generally the mid-point of the range paid for equivalent roles in similar organisations.

Related parties

The charity has key relationships with the Arts Council of Wales and agrees specific annual targets and objectives.

Partnerships

Theatr Na N'og continues to collaborate with a wide range of partners and fosters positive and meaningful relationships for the future. This promotes and presents an exciting collection of productions catering for the surrounding community and beyond.

This year the company has developed close working relationships with:

The Welfare Ystradgynlais, Awen Trust, Aberystwyth Arts Centre, Dylan Thomas Theatre, Theatre Soar, Swansea Museum, National Waterfront Museum, National Museum Wales, Swansea University and Technocamps.

Theatr Na N'og has an excellent relationship with local schools. Its ambition to develop relationships with schools nationwide to replicate the very successful model in Swansea, Neath Port Talbot and Bridgend has been realised and will expand further in 2025.

Risk management

The trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error. The trustees risk management strategy comprises:

This work has identified new risks and has resulted in better emergency procedures and contingency plans and has given the impetus for better planning. A key element in the management of financial risk is the setting of a reserves policy and its regular review by trustees.

6

THEATR NA N'OG (REGISTERED NUMBER: 01856580)

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024

Reference and administrative details Registered Company number

01856580 (England and Wales)

Registered Charity number

515903

Registered office

Unit 3 Milland Road Industrial Estate Neath SA11 1NJ

Trustees

G J Cripps (resigned 10/7/2023) L J Swindell (resigned 18/7/2023) D C Webster J R Williams (resigned 19/7/2023) C P Fitzgerald (resigned 8/4/2024) K E Fisher O Griffiths (appointed 13/11/2023) D A James (appointed 13/11/2023) R A Jones (appointed 13/11/2023) L Seymour (appointed 10/7/2023) J S Preece (appointed 15/4/2024)

Company Secretary

G H Styles

Independent Examiner

Mark Howells FCCA Carr, Jenkins & Hood 3 New Mill Court Enterprise Park Swansea SA7 9FG

Bankers

HSBC Bank plc 3 Windsor Road Neath SA11 1LN

This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

Approved by order of the board of trustees on 8 July 2024 and signed on its behalf by:

D C Webster - Trustee

7

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THEATR NA N'OG

Independent examiner's report to the trustees of Theatr Na N'og ('the Company')

I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 March 2024.

Responsibilities and basis of report

As the charity trustees of the company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').

Having satisfied myself that the accounts of the company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your company's accounts as carried out under section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5) (b) of the 2011 Act.

Independent examiner's statement

Since the company's gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of the Association of Chartered Certified Accountants, which is one of the listed bodies.

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:-

  1. accounting records were not kept in respect of the company as required by section 386 of the 2006 Act; or 2. the accounts do not accord with those records; or

  2. the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination; or

  3. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)).

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

Mark Howells FCCA

Carr, Jenkins & Hood 3 New Mill Court Enterprise Park Swansea SA7 9FG

8 July 2024

8

THEATR NA N'OG

STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING AN INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 MARCH 2024

----- Start of picture text -----
2024 2023
Unrestricted Restricted Total Total
fund fund funds funds
Notes £ £ £ £
Income and endowments from
Donations and legacies 3 324,437 - 324,437 334,442
Charitable activities 5
Productions and touring 52,444 217,493 269,937 269,885
Investment income 4 16,180 - 16,180 11,691
Other income 6 2,025 - 2,025 -
Total 395,086 217,493 612,579 616,018
Expenditure on
Raising funds 7 54,984 - 54,984 41,347
Charitable activities 8
Productions and touring 420,261 217,493 637,754 642,867
Taxation 11 (109,612) - (109,612) (101,997)
Total 365,633 217,493 583,126 582,217
NET INCOME 29,453 - 29,453 33,801
Reconciliation of funds
-
Total funds brought forward 507,398 507,398 473,597
Total funds carried forward 536,851 - 536,851 507,398
----- End of picture text -----

The notes form part of these financial statements

9

THEATR NA N'OG (REGISTERED NUMBER: 01856580)

BALANCE SHEET 31 MARCH 2024

----- Start of picture text -----
2024 2023
Unrestricted Restricted Total Total
fund fund funds funds
Notes £ £ £ £
Fixed assets
Tangible assets 17 98,218 - 98,218 96,891
Current assets
Debtors 18 257,950 - 257,950 143,744
Cash at bank and in hand 270,856 - 270,856 349,516
-
528,806 528,806 493,260
Creditors
Amounts falling due within one year 19 (90,173) - (90,173) (55,753)
Net current assets 438,633 - 438,633 437,507
Total assets less current liabilities 536,851 - 536,851 534,398
Accruals and deferred income 21 - - - (27,000)
NET ASSETS 536,851 - 536,851 507,398
Funds 22
Unrestricted funds 536,851 507,398
Total funds 536,851 507,398
----- End of picture text -----

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The trustees acknowledge their responsibilities for

The notes form part of these financial statements

continued...

10

THEATR NA N'OG (REGISTERED NUMBER: 01856580)

BALANCE SHEET - continued 31 MARCH 2024

These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.

The financial statements were approved by the Board of Trustees and authorised for issue on 8 July 2024 and were signed on its behalf by:

K E Fisher - Trustee

The notes form part of these financial statements

11

THEATR NA N'OG

CASH FLOW STATEMENT FOR THE YEAR ENDED 31 MARCH 2024

----- Start of picture text -----
2024 2023
Notes £ £
Cash flows from operating activities
Cash generated from operations 1 (78,913) 2,347
Finance costs paid (198) (235)
Net cash (used in)/provided by operating activities (79,111) 2,112
Cash flows from investing activities
Purchase of tangible fixed assets (7,377) (1,008)
-
Sale of tangible fixed assets 2,025
Interest received 5,803 1,314
Net cash provided by investing activities 451 306
Change in cash and cash equivalents in the
reporting period (78,660) 2,418
Cash and cash equivalents at the beginning
of the reporting period 349,516 347,098
Cash and cash equivalents at the end of
the reporting period 270,856 349,516
----- End of picture text -----

The notes form part of these financial statements

12

THEATR NA N'OG

NOTES TO THE CASH FLOW STATEMENT FOR THE YEAR ENDED 31 MARCH 2024

----- Start of picture text -----
1. Reconciliation of net income to net cash flow from operating activities
2024 2023
£ £
Net income for the reporting period (as per the Statement of financial
activities) 29,453 33,801
Adjustments for:
Depreciation charges 6,049 5,055
-
Profit on disposal of fixed assets (2,025)
Interest received (5,803) (1,314)
Finance costs 198 235
Increase in debtors (114,206) (41,926)
Increase in creditors 7,421 6,496
Net cash (used in)/provided by operations (78,913) 2,347
2. Analysis of changes in net funds
At 1.4.23 Cash flow At 31.3.24
£ £ £
Net cash
Cash at bank and in hand 349,516 (78,660) 270,856
349,516 (78,660) 270,856
Total 349,516 (78,660) 270,856
----- End of picture text -----

The notes form part of these financial statements

13

THEATR NA N'OG

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

1. Statutory information

Theatr Na N'og is a private company, limited by guarantee without share capital, registered in England and Wales. The registered office address can be found in the report of the trustees.

2. Accounting policies

Basis of preparing the financial statements

The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The charity constitutes a public benefit entity as defined by FRS 102.

Going concern

The trustees consider that there are no material uncertainties about the charity's ability to continue as a going concern. The trustees have assessed whether there are significant doubts about the charity's ability to continue as a going concern. In a difficult trading environment for charities, Theatr Na N'og has always been reliant on public funding. The trustees will only commit to productions if they know that such funding is available. This policy is underpinned by available reserves.

Income

All income is recognised in the Statement of Financial Activities when the charity has entitlement to the funds, any performance conditions attached to the income have been met, it is probable that the income will be received and the amount can be measured reliably.

Donations and voluntary income are accounted for when receivable.

The charity receives government grants in respect of furthering its charitable objectives. Income from government and other grants are recognised at fair value when the charity has entitlement after any performance conditions have been met, it is probable that the income will be received and the amount can be measured reliably. If entitlement is not met, then these amounts are deferred.

Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the Bank.

Expenditure

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably.

Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.

Allocation and apportionment of costs

Costs are allocated between direct charitable and support expenditure according to the nature of the cost. Where items involve more than one category they are apportioned between the categories on a basis consistent with the use of resources.

continued...

14

THEATR NA N'OG

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024

2. Accounting policies - continued

Tangible fixed assets

Tangible fixed assets other than freehold land are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:

Freehold land is not depreciated Freehold buildings - 2% on cost Plant and machinery - 20% on cost Fixtures, fittings and equipment - 15% on cost Motor vehicles - 25% on cost

Taxation

As a registered charity, Theatr Na N'og is entitled to exemption from taxation in respect of income and capital gain received with sections 478-489 of the Corporation Tax Act 2010 and section 256 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objectives only.

Fund accounting

Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.

Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.

Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to the Statement of financial activities on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

The charity operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the charity in an independently administered fund. Contributions payable for the year are charged in the Statement of Financial Activity and represent the contributions payable by the company to the fund.

Debtors

Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

Cash at bank and in hand

Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account and that are subject to an insignificant risk to changes in value.

Creditors and provisions

Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.

continued...

15

THEATR NA N'OG

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024

2. Accounting policies - continued

Financial instruments

The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.

3. Donations and legacies

Donations
Grants
Grants received, included in the above, are as follows:
Arts Council of Wales
Arts Council of Wales Cost of Living
Investment income
Rental income
Interest receivable
Corporation Tax interest		 2024
£
74
324,363
324,437
2024
£
320,795
3,568
324,363
2024
£
10,377
5,803
-
16,180		 2023
£
24
334,418
334,442
2023
£
324,363
10,055
334,418
2023
£
10,377
1,258
56
11,691

4. Investment income

continued...

16

THEATR NA N'OG

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024

5. Income from charitable activities

2024
Productions
and
touring
£
Box office and performance income
65,163
Consultancy and other fees
1,248
Sundry sales
359
Grants
201,980
Sponsorship
1,000
Royalties received
187
269,937		 2023
Total
activities
£
160,411
2,437
4,410
102,484
-
143
269,885

Income from charitable activities was £269,937 (2023; £269,885) of which £217,493 (2023; £139,826) was attributable to restricted funds and £52,443 (2023; £130,059) was attributable to unrestricted funds.

Grants received, included in the above, are as follows:

Arts Council of Wales
Arts & Business Cymru
International Links (Global) Ltd
Urdd Gobaith Cymru
6.
Other income
Gain on sale of tangible fixed assets		 2024
£
184,473
10,000
7,507
-
201,980
2024
£
2,025		 2023
£
100,000
-
2,454
30
102,484
2023
£
-

continued...

17

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024

THEATR NA N'OG

7. Raising funds

Raising donations and legacies
Staff costs
Publicity and advertising		 2024
2023
£
£
51,290
33,924
3,694
7,423
54,984
41,347
8.
Charitable activities costs
Direct
Costs (see
note 9)
£
Productions and touring
455,262		 Support
costs (see
note 10)
Totals
£
£
182,492
637,754

£217,493 (2023; £139,826) of the above costs were attributable to restricted funds, £420,261 (2023; £503,041) of the above costs were attributable to unrestricted funds.

9. Direct costs of charitable activities

2024
£
Staff costs
43,217
Production costs
407,519
Motor running expenses
2,927
Subsistence and touring expenses
1,266
App development and hosting
333
455,262
10.
Support costs
Production
Governance
Management
costs
£
£
Productions and touring
75,027
107,465		 2023
£
61,170
438,012
2,989
2,357
2,229
506,757
Totals
£
182,492

continued...

18

THEATR NA N'OG

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024

10. Support costs - continued

Support costs, included in the above, are as follows:

Production management

2024
Productions
and
touring
£
Wages
42,621
Social security
2,428
Pensions
1,841
Other operating leases
324
Water rates
85
Insurance
3,967
Light and heat
2,526
Telephone
847
Postage and stationery
794
Sundry expenses
666
Repairs and renewals
12,394
Cleaning
2,501
Affiliation fees
1,839
Legal and professional fees
-
Depreciation of tangible and heritage assets
2,194
75,027
Governance costs
2024
Productions
and
touring
£
Wages
34,252
Social security
2,364
Pensions
1,713
Independent examiners remuneration
5,375
Independent examiners remuneration for
other work
6,575
Other operating leases
756
Water rates
128
Insurance
9,257
Light and heat
3,789
Telephone
1,977
Postage and stationery
1,853
Sundry expenses
4,889
Repairs and renewals
18,591
Cleaning
3,751
Carried forward
95,270		 2023
Total
activities
£
36,536
1,263
1,109
270
73
3,452
1,238
725
798
-
5,369
1,322
2,358
1,200
1,896
57,609
2023
Total
activities
£
30,481
1,798
1,524
5,225
6,400
631
110
8,054
1,856
1,691
1,861
3,130
8,054
1,983
72,798

continued...

19

THEATR NA N'OG

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024

10. Support costs - continued

Governance costs - continued

----- Start of picture text -----
|||| |---|---|---| |2024|2023| |Productions| |and|Total| |touring|activities| |£|£| |Brought forward|95,270|72,798| |Staff training|4,727|2,309| |-| |Legal and professional fees|3,415| |Depreciation of tangible fixed assets|3,855|3,159| |Bank charges|198|235| |107,465|78,501| |11.|Taxation| |2024|2023| |£|£| |Theatre tax relief|(109,612)|(101,997)|

----- End of picture text -----

Theatr Na N'og, as a registered charity, is entitled to exemption from taxation in respect of income and capital gains received within sections 478-489 of the Corporation Tax Act 2010 and section 256 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objectives only.

The charity does however qualify for Theatre Tax Relief in respect of certain expenditure it incurs on its theatrical productions, resulting in the tax credits included in the accounts as above.

12. Net income/(expenditure)

Net income/(expenditure) is stated after charging/(crediting):

----- Start of picture text -----
|||| |---|---|---| |2024|2023| |£|£| |Examination of the financial statements|5,375|5,225| |Other services|6,575|6,400| |Depreciation - owned assets|6,050|5,055| |Other operating leases|1,080|901| |-| |Surplus on disposal of fixed assets|(2,025)|

----- End of picture text -----

continued...

20

THEATR NA N'OG

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024

13. Trustees' remuneration and benefits

There were no trustees' remuneration or other benefits for the year ended 31 March 2024 nor for the year ended 31 March 2023.

Trustees' expenses

There were no trustees' expenses paid for the year ended 31 March 2024 nor for the year ended 31 March 2023.

14. Staff costs

Wages and salaries
Social security costs
Other pension costs
The average monthly number of employees during the year was as follows:
Productions and touring
Marketing and publicity
Administration and management		 2024
£
161,827
10,250
7,649
179,726
2024
1
1
3
5		 2023
£
156,319
6,133
5,353
167,805
2023
1
-
2
3

No employees received emoluments in excess of £60,000.

The total employee benefits of the key management personnel of the charity were £49,749 (2023; £48,300).

15. Comparatives for the statement of financial activities

Unrestricted
Restricted
fund
fund
£
£
Income and endowments from
Donations and legacies
334,442
-
Charitable activities
Productions and touring
130,059
139,826
Investment income
11,691
-
Total
476,192
139,826
Expenditure on
Raising funds
41,347
-		 Total
funds
£
334,442
269,885
11,691
616,018
41,347

continued...

21

THEATR NA N'OG

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024

----- Start of picture text -----
15. Comparatives for the statement of financial activities - continued
Unrestricted Restricted Total
fund fund funds
£ £ £
Charitable activities
Productions and touring 503,041 139,826 642,867
Taxation (101,997) - (101,997)
Total 442,391 139,826 582,217
NET INCOME 33,801 - 33,801
Reconciliation of funds
-
Total funds brought forward 473,597 473,597
Total funds carried forward 507,398 - 507,398
16. Independent examiners remuneration
2024 2023
£ £
Examination of the financial statements 5,375 5,225
Other services 6,575 6,400
11,950 11,625
----- End of picture text -----

continued...

22

THEATR NA N'OG

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024

17. Tangible fixed assets

Cost
At 1 April 2023
Additions
Disposals
At 31 March 2024
Depreciation
At 1 April 2023
Charge for year
Eliminated on disposal
At 31 March 2024
Net book value
At 31 March 2024
At 31 March 2023		 Freehold
Plant and
property
machinery
£
£
189,611
90,310
-
7,377
-
(8,917)
189,611
88,770
94,950
88,948
3,794
1,995
-
(8,917)
98,744
82,026
90,867
6,744
94,661
1,362		 Fixtures
and
fittings
£
48,717
-
-
48,717
47,849
261
-
48,110
607
868		 Motor
vehicles
£
26,735
-
(26,735)
-
26,735
-
(26,735)
-
-
-		 Totals
£
355,373
7,377
(35,652)
327,098
258,482
6,050
(35,652)
228,880
98,218
96,891

A legal charge held by the Arts Council of Wales in relation to the freehold property expires 5 November 2027.

18. Debtors: amounts falling due within one year

Trade debtors
Corporation tax recoverable
VAT
Accrued income
Prepayments		 2024
£
11,976
109,612
23,800
12,636
99,926
257,950		 2023
£
24,502
101,997
-
-
17,245
143,744

continued...

23

THEATR NA N'OG

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024

19. Creditors: amounts falling due within one year

Trade creditors
Social security and other taxes
VAT
Other creditors
Accrued expenses		 2024
£
46,731
4,960
-
7,633
30,849
90,173		 2023
£
1,315
3,022
506
2,500
48,410
55,753

20. Leasing agreements

Minimum lease payments under non-cancellable operating leases fall due as follows:

Within one year
Between one and five years
21.
Accruals and deferred income
Deferred government grants
At 1 April
Additions during the year
Amounts released to income
At 31 March
22.
Movement in funds
Unrestricted funds
General fund
TOTAL FUNDS		 2024
£
660
1,595
2,255
2024
£
-		 2023
£
660
2,255
2,915
2023
£
27,000
2024 2023
£ £
27,000 45,000
- 27,000
(27,000) (45,000)
- 27,000
Net
movement
At 1.4.23
in funds
£
£
507,398
29,453
507,398
29,453		 At
31.3.24
£
536,851
536,851

continued...

24

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024

THEATR NA N'OG

22. Movement in funds - continued

Net movement in funds, included in the above are as follows:

Incoming
resources
£
Unrestricted funds
General fund
395,086
Restricted funds
Restricted
217,493		 Resources
expended
£
(365,633)
(217,493)		 Movement
in funds
£
29,453
-
TOTAL FUNDS
612,579		 (583,126) 29,453
Comparatives for movement in funds
At 1.4.22
£
Unrestricted funds
General fund
473,597		 Net
movement
in funds
£
33,801		 At
31.3.23
£
507,398
TOTAL FUNDS
473,597		 33,801 507,398
Comparative net movement in funds, included in the above are as follows:
Incoming
resources
£
Unrestricted funds
General fund
476,192
Restricted funds
Restricted
139,826		 Resources
expended
£
(442,391)
(139,826)		 Movement
in funds
£
33,801
-
TOTAL FUNDS
616,018		 (582,217) 33,801

continued...

25

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024

THEATR NA N'OG

22. Movement in funds - continued

A current year 12 months and prior year 12 months combined position is as follows:

Unrestricted funds
General fund
TOTAL FUNDS		 Net
movement
At 1.4.22
in funds
£
£
473,597
63,254
473,597
63,254		 At
31.3.24
£
536,851
536,851

A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:

Unrestricted funds
General fund
Restricted funds
Restricted		 Incoming
Resources
resources
expended
£
£
871,278
(808,024)
357,319
(357,319)		 Movement
in funds
£
63,254
-
TOTAL FUNDS 1,228,597
(1,165,343)		 63,254

23. Employee benefit obligations

The charity operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the charity in independently administered funds. The pension costs charge represents contributions payable by the charity to those funds and amounted to £7,649 (2023; £5,353).

24. Related party disclosures

EFGHEL Limited

A company wholly owned by Eric Styles who is the husband of Geinor Styles, company secretary and employee of the charity.

During the year EFGHEL Limited provided the following services to the charity:

During the year EFGHEL Limited provided the following services to the charity:
2024 2023
£ £
Reimbursement of iphone use 840 660
Computer support 1,615 1,275
2,455 1,935

continued...

26

THEATR NA N'OG

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024

24. Related party disclosures - continued

The balance outstanding at the balance sheet date was £nil (2023; £nil).

25. Limited by guarantee

The charity is constituted as a company limited by guarantee and does not have a share capital. Each member gives a guarantee to contribute a sum not exceeding £1, to the company should it be wound up.

27